Paul Yancich & Daniel Eisen – Taking Inspiration From Constellation and Leveraging a Long Time Horizon – Ep.84
October 5, 2021
Paul Yancich and Daniel Eisen are co-founders of Arcadea Group, a permanent capital holding company.
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The Think Like an Owner podcast seeks out conversations with small company owners and investors to learn how to acquire and run small companies, with a focus on search funds, micro private equity, and permanent capital.
Paul Yancich and Daniel Eisen are co-founders of Arcadea Group, a permanent capital holding company.
Westerly Group was founded on the principle of supporting acquisition entrepreneurs with committed, permanent capital to pursue a specific industry thesis over an indefinite time horizon.
This is the second time I’ve had David Krock on the podcast, the first was episode 6 where we broadly discussed his investment firm, Sunset Coast Brands which has now become PermaVentures. This second episode with him goes off the beaten path a bit.
In this episode with Palmer, we talk about his move to one of their operating companies, Mainely Grass, as CEO.
My guest today, Mason Myers, has spent the last 10 years building an incredible investment vehicle called Greybull Stewardship. With Greybull, Mason has acquired 11 portfolio companies with an evergreen fund structure with opportunities for LPs to add or withdraw capital only every four years.
Trish Higgins was the guest on my very first podcast episode and was kind enough to share her time with me when I had no downloads, no show, and no website. Funny enough, that first episode is still my most downloaded episode to date. A lot has happened since then and I’m very excited to have Trish on the show for a second episode. In this episode, we cover Trish’s recent move to the operating side, how Chenmark has evolved including what’s become easier and more difficult over time, and we dive briefly into landscaping.
My guest Ali Aydar has a fascinating background. Today he’s the CEO of Sporcle, an online trivia business, but earlier he worked in various venture backed companies playing the finite game and decided to play the infinite game at Sporcle instead. He is the first business owner on the podcast and we talk about operating a business through tough times, the advantages of having permanent capital in a business, and his choice in leaving the finite game.
My guests today come from the recently created ESOP holding company called Empowered Ventures which today owns TVF, a textiles company in Indianapolis. Chris Fredericks is the President of TVF and Empowered Ventures and will be joined by Spencer Springer full time once Spencer’s MBA program with Northwestern is wrapped up.
My guest on this episode is Andy Ellis, a managing partner of Localize Capital in Pittsburgh which, as the name suggests, focuses on investing in companies and entrepreneurs around the Pittsburgh area.
Peter and Justin both reached out over Twitter and the more I learned about their firm, the more interesting to me it became. Traction is a small private equity firm that blurs the lines between a private equity fund and a permanent capital vehicle, which is what made them so interesting to me.
My conversation today is with Mike Boyd. Mike is originally from Brisbane, Australia and currently lives in Singapore where he runs one of the leading car rental comparison websites in the world – Vroom, Vroom, Vroom, among other portfolio companies. He has been an entrepreneur for virtually his entire life, starting at a very young age.
For the first conversation of the podcast, I’m meeting with Trish Higgins who, along with her husband James Higgins and brother-in-law Palmer Higgins, run Chenmark Capital in Portland, Maine. Chenmark Capital acquires and operates small companies for the long term using their own capital, with no intention of selling – a perfect example of permanent equity.
Each year I write an annual letter to readers and listeners to reflect on the evolution of the podcast and my personal growth.
While 2020 was turbulent to say the least, it was the best year of my life. I married my lovely wife in late August, adopted a corgi, and began working on the Think Like an Owner podcast full-time.
Before getting to the podcast, 2019 was a tremendous year personally. I flew to DC for a FinTwit gathering hosted by Jamie Catherwood, graduated college with a new job, and got engaged.
As a fun goal for myself, I’ve decided to start writing annual (and possibly quarterly) letters for the Think Like an Owner project to reflect on the growth of the podcast, discussion around the micro private equity market, and my personal learning.
I’m always looking to connect with folks interested in this space, don’t hesitate to reach out.
